Mapping and Planning
The best way to control your long term activities as a commercial real estate agent is to get a street map of the area and then work the geographic location in stages. Essentially you need to understand your area in great detail and have a solid awareness of the following matters:
- property ownership
- tenants and decision makers therein
- property zoning and potential changes there to
- property prices by property type and region
- property rental by property type and region
- property outgoings by property type and region
- lease detail and tenancy detail for all major and targeted properties
- a lease expiry profile for all major buildings and for the region
- regional business demographics
- regional population demographics
- regional economic demographics
- road changes and major traffic flows
- other competition properties and listings
- other agents in the area and their listings
- recent sales results in the area
- Details of properties that have been sold approximately three years ago and beyond, as these are the next properties that will enter the sales arena for disposal.
- Details of properties that have been leased approximately three years ago and beyond, as these are the next properties that will have a need for leasing services.
- Details of property owners that bought property about three years ago in the region as they are most likely to be sufficiently cashed up to acquire again soon.
This information will help you understand future opportunity and position your services such as sales, leasing, and property management.